In this podcast, Michael Carter explains the basis for the tort of 'passing off' and outlines the circumstances in which it can be used alongside, or in place of, trademark rights to protect 'goodwill' in a business.

In a statement, PwC said it “believes it has identified an opportunity that recognises the future needs of a rapidly changing marketplace”.

PwC vice-chairman and managing partner Mark Mendola said: “The calibre of talent joining our firm from GE is remarkable. This arrangement will enable us to continue providing our clients with the very best tax services in an increasingly volatile and uncertain environment.”

The five-year renewable agreement will take effect from 1 April.

News of the arrangement comes after PwC’s UK legal arm fully integrated into PwC’s UK business to create a multi-disciplinary practice. PwC was granted an alternative business structure licence in 2014, a move that enabled its legal services business to operate more closely with the wider accounting firm.